Encompass Integration - Analyze

Once integrated for Classify and Capture a client will be able to work with Ocrolus to generate gross monthly income data off all captured forms for traditionally employed borrower and co-borrowers

Classification and Capture as a Prerequisite

The Calculate Encompass integration requires a Classify and Capture workflow to be in existence prior to a Calculate integration. Ocrolus Income calculations leverage Capture data as inputs and re-index a pdf of each income calculation generated for each traditional place of employment for the borrower and coborrower on the loan.

Standard Income Calculator

Ocrolus leverages the industry standard Income Calculations to obtain chosen income options for an underwriter to leverage. Ocrolus currently supports only traditional employment income calculations. For information on self-employed borrower, co-borrower income support or alternative income calculations, please reach out to Ocrolus customer support.

Ocrolus Income Calculator Custom Form

Ocrolus provides a custom form to clients to view, interact and select income data for the current place of employment for a borrower or co-borrower. When an income is selected, it can be written to Section 1b of the 1003 URLA 2020. The data fields in the Ocrolus Income Calculator are read only.

Information on how to install the custom form can be found [here].

Custom Form Section 1- Header Information

An underwriter can select from the header of the custom form whose current income calculation to view. The custom form supports a display for the borrower and co-borrower of a loan

Custom Form Section 2 - Hourly Income

If the borrower selected is determined to be paid hourly at his/her current place of employment this section will be populated with data. A list of fields available can be found below:

Custom Form Section 3 - Salary Income

If the entity selected is determined to be paid a salary at his/her the current place of employment this section will be populated with data.

Custom Form Section 4 - Overtime Income

If Ocrolus Capture data has identified overtime income on a borrower or co-borrower's available paystubs this section will contain data from the Income Calculator

Custom Form Section 5 - Bonus Income

If Ocrolus Capture data has identified bonus income on a borrower or co-borrower's available paystubs this section will contain data from the Income Calculator

Custom Form Section 6 - Commission Income

If Ocrolus Capture data has identified commission income on a borrower or co-borrower's available paystubs this section will contain data from the Income Calculator

Custom Form Section 7 - Other Income

If Ocrolus Capture data has identified an additional type of income on a borrower or co-borrower's available paystubs this section will contain data from the Income Calculator

Custom Form Section 8 - Military Entitlements Income

If Ocrolus Capture identifies that the borrower or co-borrower is active duty military then the Military entitlement income will be displayed in an itemized list.

Write to 1003 Mappings - Sections 1 through 7

The below chart displays the location of where each piece of data will be copied to in the 1003 URLA 2020 when the "Write to 1003" button is selected for the first seven sections of the Income Calculator. These entries map to the first entry for Verification of Employment.

Write to 1003 - Section 8, Military Entitlement

The below chart displays the location of where each piece of data will be copied to in the 1003 URLA 2020 when the "Write to 1003" button is selected for the Military Entitlement Income. These entries map to the first entry for Verification of Employment.

Income Calculation Indexed to eFolder

In addition to the interactive custom form Ocrolus will also index a PDF of the income calculations generates for all places of employment for a borrower and co-borrower. Below detail the format of the attachment indexing

The income calculations indexed to the eFolder will also display a list of the W2 and Paystub attachments that were leveraged in the calculations.

^ Above will be an embedded version of a sample Income Calculation

Updating Income Data

Ocrolus will update the Calculate data for the borrower and coborrower each time new paystubs and W2s are identified and verified by the Classify and Capture processes. Updated data for the current place of employment for the borrower or co-borrower will automatically update the Calculate Custom Form. An updated Income Calculation pdf will also be indexed to the loan eFolder.

Getting a sample .empkg file

Please contact your implementation associate for the relevant .empkg file.